World Grain - November 2023 - 25

" The forecast for total wheat utilization has been lowered
by 1.7 million tonnes since the previous report to
783 million tonnes, but still exceeds the 2022-23 level
by 0.5%, " the FAO said. " The increase from last season
stems almost exclusively from higher food consumption,
foreseen to offset an anticipated fall in feed use of wheat,
while other uses are set to remain unchanged. "
Stronger demand for maize
The UN body is now expecting total utilization of coarse
grains in 2023-24 at 1.5 billion tonnes, 1.1 million down
on its previous forecast, but 1.2% above 2022-23.
" The bulk of the year-on-year increase is due to expectations
of a stronger demand for maize (especially for feed
use), " the FAO said. " Sorghum utilization (almost exclusively
for feed use) is also seen increasing, while barley
utilization is set to contract. "
The unrevised forecast for world grain trade in 2023-24
is around 466 million tonnes, a reduction of 1.7%, or 8
million tonnes, from the previous year, with wheat exports
put at an unchanged 193 million tonnes, down 3.5%, or 7
million tonnes, from 2022-23, reflecting " higher exports
foreseen for the Russian Federation, supported by ample
supplies, offset downward revisions to exports from
Australia and Canada, where production prospects were
lowered, " the FAO said.
World trade in coarse grains in 2023-24 also is unrevised
from last month at 220 million tonnes, down 0.7%,
or 1.5 million tonnes, from the previous year, " mainly reflecting
an anticipated contraction in global maize trade, "
the FAO said.
The FAO's forecasts for world trade in maize in 202324
was unrevised at 178 million tonnes, " as an upward adjustment
to maize shipments expected from Brazil, where
supplies are abundant thanks to a record harvest, were balanced
by slight downward revisions to sales by Paraguay
and the United States. "
The International Grains Council's (IGC) view of
wheat trade is that " with smaller deliveries to Europe, the
CIS and Asia only partly countered by predicted brisker to
African arrivals, " it " is expected to retreat from last year's
peak, pegged at 195.9 million tonnes (down 6%), 1.3 million
lower month-on-month. "
In its September report, the London, England-based
international organization said that monthly revisions for
imports include cuts for South America, notably for Chile,
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World Grain - November 2023

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